FTSE 100 plunges after a sharp fall in US markets, Sensex opens 250 points higher

FTSE 100 plunges after a sharp fall in US markets, Sensex opens 250 points higher

London’s FTSE 100 plunged below 7,000 after starting the bank holiday week on a strong note, following the sharp fall in US markets. The blue chip FTSE 100 fell from the day’s high of 7,034 down to 6,923, with a loss of 46 points. The domestically focused FTSE 250 also fell, dipping 167 points to 22,330. An initial rally after the long weekend was led by travel shares, with the hope of easing travel restrictions and economic recovery. However, as the trading session began across the pond, the selloff also knocked London shares down. The US indices tumbled with a steep decline in megacap stocks after a comment from treasury secretary Janet Yellen on rising interest rates, which triggered investors to move money to more defensive parts of the markets. Nasdaq composite ended down 261 points, or 1.88 per cent, to 13,633, while the S&P 500 lost 28 points, or 0.67 per cent, to 4,164. The Dow Jones Industrial Average recovered its earlier losses and closed slightly higher, rising 19 points, or 0.06 per cent, to 34,133. Highly valued technology …
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